India’s May wholesale inflation mounts to 4.43 percent

As per the Commerce Ministry data, a major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 per cent.

This is almost double over the 2.26 per cent registered in May last year and higher than the 3.18 per cent recorded in April, 2018. Earlier this week official data showed retail inflation in May had touched 4.87 per cent.

Citing inflation risks mainly from rising global crude prices, the Reserve Bank of India (RBI) earlier this month raised its key lending rate by 25 basis points to 6.25 per cent for the first time in over four years.

As per the Commerce Ministry data, a major spurt in food and fuel prices in the country pushed the wholesale price index (WPI) for May to 4.43 per cent. This is almost double over the 2.26 per cent registered in…